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Do Restrictions on Home Equity Extraction Contribute to Lower Mortgage Defaults? Evidence from a Policy Discontinuity at the Texas Border

By Anil Kumar

American Economic Journal: Economic Policy, February 2018

Texas is the only US state that limits home equity borrowing to 80 percent of home value. This paper exploits this policy discontinuity around Texas' interstate borders and uses a multidimensional regression discontinuity design framework to find that lim...

Urban Sprawl

By Thomas J. Nechyba and Randall P. Walsh

Journal of Economic Perspectives, Fall 2004

We begin with an overview of the causes and consequences of urban sprawl in the twentieth century, focusing in particular on lower transportation costs and self-sorting of the population. By sprawl, we will mean the tendency toward lower city densities as...